The US to channel 800 million USD to trigger the economy of southern Mexico

The investment would go to companies of different industrial sectors in Oaxaca, Chiapas, and Yucatan in order to generate employment and prevent migration due to poverty.

The Secretary of Foreign Affairs, Marcelo Ebrard Casaubón, and the Vice President of the Corporation for Private Investment Abroad (OPIC), Ryan Brennan, signed two letters of intent to channel $ 800 million to triggerthe economic development of the South from the country.

These resources would be allocated to large, small and medium-sized companies , as well as microfinance institutions, and are part of a commitment by the United States government to channel a total of two billion dollars.

Ebrard Casaubón explained that the signing of this letter is in compliance with the agreement signed in December 2018 between both governments to invest in the southern states of the country, with the aim of generating employment and avoiding migration due to poverty.

The Mexican foreign minister stressed that signing the document “realizes that the relationship with the United States, which is very complex, is a good relationship and that it makes sense to make good agreements.”

Currently, the 12 strategic projects in which OPIC would invest are under review in the southern and southeastern areas of the country, in states such as Oaxaca, Chiapas and Yucatán in the energy, agrarian, maritime and water sanitation industries.

The foreign minister stressed that in response to this support, Mexico fulfills its commitment to make an important investment in El Salvador, Honduras, and Guatemala to accelerate the economic growth of these three nations.

“Mexico, for its part, is fulfilling the commitment it made, in the sense that we would invest in the three countries for more jobs in the short term. We are already doing it in El Salvador. The investment in this year by Mexico will be the most important we have ever done to create jobs, “he said.